Thrivent Financial for Lutherans Sells 1,651 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Thrivent Financial for Lutherans decreased its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 2.7% in the third quarter, Holdings Channel reports. The firm owned 59,631 shares of the company’s stock after selling 1,651 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Essential Utilities were worth $2,300,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Natixis Advisors LLC boosted its stake in shares of Essential Utilities by 6.0% in the 3rd quarter. Natixis Advisors LLC now owns 66,382 shares of the company’s stock worth $2,560,000 after buying an additional 3,761 shares during the last quarter. Coastline Trust Co purchased a new position in Essential Utilities during the third quarter valued at $65,000. CIBC Asset Management Inc lifted its position in Essential Utilities by 1.8% during the third quarter. CIBC Asset Management Inc now owns 14,243 shares of the company’s stock valued at $549,000 after purchasing an additional 250 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in Essential Utilities by 7.1% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,145 shares of the company’s stock valued at $430,000 after purchasing an additional 737 shares in the last quarter. Finally, Schrum Private Wealth Management LLC purchased a new position in Essential Utilities during the third quarter valued at $222,000. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Trading Up 0.6 %

WTRG opened at $40.29 on Thursday. The stock has a market cap of $11.06 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 3.17 and a beta of 0.84. The stock’s 50 day moving average price is $39.10 and its 200-day moving average price is $38.87. Essential Utilities, Inc. has a one year low of $33.57 and a one year high of $41.78. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55.

Essential Utilities (NYSE:WTRG) last released its earnings results on Monday, November 4th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The firm had revenue of $435.30 million for the quarter, compared to analysts’ expectations of $416.95 million. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities analysts forecast that Essential Utilities, Inc. will post 2.01 EPS for the current year.

Essential Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.3255 per share. The ex-dividend date is Tuesday, November 12th. This represents a $1.30 annualized dividend and a yield of 3.23%. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Analyst Upgrades and Downgrades

WTRG has been the topic of a number of recent analyst reports. Jefferies Financial Group cut Essential Utilities from a “buy” rating to a “hold” rating and decreased their price target for the company from $44.00 to $41.00 in a report on Thursday, November 7th. Evercore ISI raised their price target on Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Bank of America reissued a “buy” rating and set a $45.00 price target on shares of Essential Utilities in a report on Friday, September 20th. Wells Fargo & Company reduced their target price on Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Robert W. Baird upped their price objective on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Essential Utilities presently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

Essential Utilities Profile

Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water, wastewater, or natural gas services in the United States. The company operates through Regulated Water and Regulated Natural Gas segments. It offers water services through operating and maintenance contract with municipal authorities and other parties.